Netflix took advantage of the end of January to take stock of its quarterly results. And if the curves are in the green for the streaming giant, the reasons behind are sometimes surprising.
Netflix is doing well. With 260 million customers worldwide at the start of 2024, the company made $8.8 billion in profits during its most recent fiscal quarter (which includes the holiday season). This is the biggest growth shown by the company since the subscription explosion linked to Covid-19 and confinements. The firm even allowed itself to exceed the results expected by the stock market and displays very optimistic ambitions for 2024, counting on a new growth peak of +13%.
The subscription with ads still works well
While other streaming services like Disney+ are pouting, how come Netflix is showing such indecent growth? According to the firm’s managers, this is partly due to the launch of its cheaper formula with advertising, boosted by the tightening of the company’s policy on account sharing.
While the risks of abandoning the platform caused by this choice were not zero, it seems that the launch of the €5.99 offer helped smooth the transition. According to Greg Peters, co-managing director of the firm, the advertising formula attracted “ 23 million active monthly users » so far. What to generate “long-term profits», Says the company.
GTA boosts mobile gaming growth
But a surprising growth lever can also be found in video games. Part of the Netflix catalog since 2021, mobile games have experienced “a tripling of commitment in 2023», explains the company. Growth due in part to the arrival of the GTA trilogy (GTA III, Vice City and San Andreas) on the platform at the end of last year.
If Rockstar’s games have only been available since December 15, they already represent “the most successful launch to date» according to Netflix. The company even swore that some Internet users “clearly signed up for Netflix just so they could play these titles“. No doubt the release of the GTA VI trailer caused a wave of nostalgia among some.
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Netflix is a subscription video-on-demand platform. There is a wide range of series, films, documentaries, cartoons and shows. Netflix is a service accessible online and on a wide variety of devices: computers (Windows, Mac), smartphones (iOS, Android application), smart TVs, game consoles and many others.
Netflix is a subscription video-on-demand platform. There is a wide range of series, films, documentaries, cartoons and shows. Netflix is a service accessible online and on a wide variety of devices: computers (Windows, Mac), smartphones (iOS, Android application), smart TVs, game consoles and many others.
Source : Netflix via Engadget
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